Business News

5 things you need to know today

1. The big four banks brought in over $1 billion after raising rates for interest-only loans in response to a requirement introduced by APRA last year that these loans make up a maximum of 30% of all new loans.

2. The Australian is reporting that 10,600 asylum seekers that arrived under the Rudd and Gillard government's border policy would be offered permanent residency if Labor wins the next election.

3. After dropping over 500 points during the start of the session, the Dow Jones closed 34.31 points (0.14%) higher at 24,423.26. Meanwhile the S&P 500 ended the day 0.2% higher and the Nasdaq rose 0.7%.

4. Theresa May has delayed a vote on her Brexit plan after admitting it would not pass the parliamentary vote scheduled for today.

5. NASA's Voyager 2 space probe launched in 177 has entered interstellar space and is now around 18 billion kilometres from Earth.